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    76 Broadway Newport, RI 02840
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    Property profile & analytics

    76 Broadway, Newport, RI 02840

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    • Investment properties
    • 96,672 SF
    • 2.30 lot acres
    For Lease
    $16 SF/Yr
    View Listing →
    Newport Commercial Space For Lease For Lease
    $16 SF/Yr

    Newport Commercial Space For Lease

    Large open commercial space in central Newport, Rhode Island.

    76 Broadway, Newport, RI 2840
    View Listing
    Property ID
    US76-0150341
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 76 Broadway

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.30 lot acres
    Zone code
    GB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NEWP M:017 B:0340
    APU
    NEWPM017B0340

    Description

    This exceptional 3,490 square foot commercial space is available for lease in the heart of Newport, Rhode Island. Situated on the ground floor in the rear of 76 Broadway, with convenient access to Dr. Marcus Wheatland Boulevard, this single-tenant property offers unparalleled versatility. The large, open floor plan is ideal for a variety of uses, making it perfect for businesses seeking a unique and adaptable environment. Imagine a furniture design studio showcasing its creations, a fitness center catering to the local community, or a vibrant retail space attracting foot traffic. The property's location offers significant advantages, including ample parking, ensuring ease of access for both employees and customers. The first-floor access eliminates the need for stairs or elevators, enhancing accessibility and convenience. This property presents a rare opportunity to establish a thriving business in a highly desirable and centrally located Newport area. The space is ready for immediate occupancy and offers a blank canvas for your business to flourish. Its central Newport location provides excellent visibility and accessibility, making it an attractive option for a wide range of businesses. Don't miss this chance to secure a prime commercial space in a thriving Rhode Island community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,990,000
      Market price range: $5.82M - $28.8M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.312
    Latitude
    41.4922
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $79,548
    $1,125,000
    $6,980,800
    $8,105,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      130 Broadway

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    • Value Estimation
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      16,235 SF

      21 Marlborough St, Unit 41

      OFFICE/RESIDENTIAL (MIXED USE)
      21 Marlborough St, Newport, RI 02840-2544
      View Details
    • Value Estimation
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      6,720 SF

      148 Spg St, Unit 160

      OFFICE/RESIDENTIAL (MIXED USE)
      148 Spg St, Newport, RI 02840-6806
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    • Value Estimation
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      5,482 SF

      130 Thames St

      OFFICE/RESIDENTIAL (MIXED USE)
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      View Details
    • Value Estimation
      $805,000
      4,388 SF

      37 Lee Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      37 Lee Ave, Newport, RI 02840-8602
      View Details

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    Similar Nearby for Lease

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      Live-Work Space in Newport

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      Newport Office Space For Rent

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      Turnkey Restaurant Space on Broadway

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      4,270 SF

      Office Space Available For Rent

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      Newport Commercial Space For Lease

      Large open commercial space in central Newport, Rhode Island.
      76 Broadway, Newport, RI 02840
      View Details
    • Contact for pricing

      Convenient Newport Office Space Available

      Office space for rent near downtown Newport and Naval Base.
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      View Details
    View Listing
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    Newport, RI 02840
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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